Sold
Walsall – Secure Industrial Investment With 10 Years Unexpired
Carrier Rental Systems, Quayside Drive, Walsall, WS2 9LA
Offers in excess of £2,100,000
- Property Type:
- Commercial
- Sub Type:
- Industrial
- Tenure:
- Freehold
- Net Initial Yield:
- 6.50%
Income
£145,000 pa
Description
- Modern warehouse unit totalling 30,292 sq ft (2,814.2 sq m).
- Strategically located in Walsall with excellent access to the M6 Motorway.
- Site area of 2.55 acres (1.03 hec) providing a low site cover of 27%.
- Let to the strong covenant of Carrier Rental Systems UK Limited (5A1).
- 10 year lease renewal (no breaks).
- Low passing rent of £145,000 per annum, reflecting £4.78 psf.
- 5 yearly rent reviews to the higher of RPI and the OMRV.
- Freehold.
- Offers sought in excess of £2,100,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 6.50% and a low capital value of £69 psf, assuming purchaser’s costs at 6.30%.